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Q-FREE SELLS SHARES IN NOCA AS
-To own an electronics development and manufacturing company is not within the revised strategy of Q-Free. Furthermore, we believe that Noca and Simpro together will form a stronger unit, than each of the players on a stand-alone basis. Q-Free will remain a customer of Noca and Simpro. We thank the Noca employees for their contribution to Q-Free and wish the company and our former employees all the best in this next phase for Noca, comments CEO of Q-Free, Thomas Falck.
–Simpro sees this assignment as part of our growth strategy and to achieve the goal of becoming the preferred supplier of electronics manufacturing and electro-mechanical assembly in both the region and elsewhere. The total market potential after the assignment will be significantly larger than the current revenues for the respective companies indicates, and one will be able to take on more complex and comprehensive projects for both new and existing customers in order to meet the tough competition we experience from low-cost countries, says Erik Dragset, CEO of Simpro.
Please see the enclosed material for additional information in accordance with Section 3.4 of Continuing Obligations for companies listed on Oslo Stock Exchange.
For further information, please contact:
CEO Thomas Falck, cell: +47 468 00 767
CFO Roar Østbø, cell: +47 932 45 175
About Q-Free:
Q-Free is a leading global supplier of products and solutions within Road User Charging and Advanced Transportation Management Systems. The Q-Free Group has after the closing of the Noca transaction approximately 400 employees with offices in 17 countries and presence on all continents. The Q-Free head office is in Trondheim, Norway. Q-Free is listed on Oslo Stock Exchange under the ticker QFR.
www.q-free.com
Twitter: @Q-FreeASA
About Noca: Noca AS was established in 1986, and is a modern supplier of products and solutions within electronics manufacturing and electronic-mechanical assembly to high tech companies. Noca has 45 employees and is located in Trondheim.
About Simpro: Simpro is one of the leading Electro Manufacturing Services (EMS) suppliers of high reliability electronics and electro-mechanics for harsh environments. With core competence within radio, ATEX and subsea, Simpro offer the full range from prototypes to volume production with complete assembly, and can be your production partner through the whole value chain from design and development, via industrialisation to production and test – with core focus on the Offshore, Defense, MedTec and Industry segments. Simpro has 52 employees and is located at Løkken Verk.